Will coins of 1 and 2 cents disappear in France?



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The experts of the committee Cap 2022 propose to move gradually towards a society without cash, like Sweden.





Photo credit © Reuters
                    

(Boursier.com) – Will the little yellow coins disappear in France? This would be one of the thrusts of Public Action Committee 2022 (Cap 2022), which focuses on economies in the public sphere at the request of the government. Its first tracks leaked in the press late last week, with 22 measures, to achieve a trillion of savings in the medium term.

Among these reforms, "we propose to gradually move towards a society without cash , like Sweden, "write the experts. "We could start in the short term by putting an end to the circulation of coins of 1 and 2 cents, as has been done in Ireland, Finland and Belgium for example," they detail.

Citizens are in favor

According to a Eurobarometer devoted to the euro area in December 2017, nearly two-thirds of Europeans are in favor of removing these coins. Their production is expensive: to make a piece of 1 centime, 1.3 g of 1.67 mm thick copper steel, costs 1.2 cents. A deficit activity for the States, especially since a huge part of these parts disappears at the bottom of the drawers or leaves the country with the tourists.

The reform advocated by Cap 2022 would go further, with the removal of checks and stamps for tax and social payments within two years. The experts also wish to "make the acceptance of dematerialized payments (credit card, telephone, transfer) mandatory for all purchases, without a minimum amount, and develop an application by which consumers could easily report difficulties."

"Zero cash "

The implementation of these reforms will lead to full dematerialisation of payments to administrations by 2020. The Committee is convinced that this" zero cash "reform would be a source of significant savings – but was not able to encrypt them. "In addition, it should help fight against tax fraud and thus increase the tax return," says the committee.


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